GridSense™, an Acorn Energy Company, Announces Order From Central American
SACRAMENTO, Calif., Jan. 8, 2014
SACRAMENTO, Calif., Jan.8, 2014 /PRNewswire/ --GridSense, an Acorn Energy
company (NASDAQ:ACFN), announced that aCentral American utility recently
placed an order for 150 TransformerIQ^® monitoring units and requisite
ancillary support hardware. The utility previously ordered TransformerIQ units
and tested their capability. This new order valued at more than $250,000
encompasses a variety of communications options that will be tested as part of
the second stage of preparation for a potentially larger project.
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"This project highlights the growing need in Latin and South America for power
companies to better manage theft on the network. The Transformer IQ allows
distribution companies the opportunity to monitor and identify areas on the
network that see the largest number of losses and verify meter readings,"
stated Francis Fisher, Sales Director GridSense.
Fisher continued, "The customer has told me that transformer monitoring is the
key to their smart grid strategy. They believe that they will have monitoring
on all of their transformers in the future once they have determined a
communication path. They have a total of 50,000 transformers and monitoring
will allow them to better understand losses, both technical and non-technical
GridSense is a smart grid technology company dedicated to providing
innovative, practical and cost effective monitoring solutions to the electric
power industry. Utilizing in-depth industry knowledge and understanding of
utility requirements, we provide technology and services that help the
industry address the limitations of old and aging infrastructure. We apply
experience and technical know-how with new insight and ideas to create
intelligent, reliable and leading edge technologies that add value to our
customers and shape the future of the modern electrical power system. For more
information visit (www.gridsense.com).
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company whose four portfolio companies help
their customers achieve greater productivity, reliability, security, and
efficiency—factors which can lead to greater profitability. GridSense
provides monitoring for all critical points along the electricity delivery
system. OmniMetrix™ remotely monitors emergency back-up power generation
systems to increase their reliability. US Seismic supplies fiber optic sensing
solutions to increase oil/gas production and lower costs. DSIT provides
security solutions from underwater threats to naval and marine based energy
assets. For more information visit:http://www.acornenergy.com.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to
risks and uncertainties. There is no assurance that GridSense will receive
further orders from this customer or that Acorn Energy, Inc. or any of its
operating companies will continue to grow their respective businesses, or that
any of them will meet the expectations or execute the initiatives described or
referred to above. A complete discussion of the risks and uncertainties which
may affect Acorn Energy's business generally and the businesses of its
subsidiaries is included under "Risk Factors"" in the Company's Form 10-Q for
the third quarter of 2013 filed by the Company with the Securities and
VP Business Development
Investor & Press Contact:
F. Kent Leacock
SOURCE Acorn Energy
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